The banking sector is important to a country’s economy; thus the banking system must be functional. There are several banks here, some local commercial and other subsidiaries owned by foreigners. The EMEA Finance magazine named Banco Millennium Angola as the best bank owned by foreigners. While the Espírito Santo Angola (BESA) bank received an award for being the best bank in the country. BESA is a subsidiary of the Espírito Santo Financial Group shortened as ESFG. Banco De Portugal is one of the oldest foreign-owned banks acting as a subsidiary. These financial institutions offer banking, corporate, lending, investment management, and commercial services to their customers.
If you are considering working in a bank or doing business with one here, this guide provides credible information on the top banks within the country and the services they offer.
Six Top Banks
The following are six of the top banks located in the nation both locally based and foreign subsidiaries.
Banco Millennium Angola
Famous for being a global bank, it has millions of customers and an international presence. It provides governments, persons, businesses, and commercial institutions with different financial packages and services like corporate banking, investment banking, lending, assets management, etc. The bank also offers some private and financial banking services, including savings, and investment management accounts. It has a solid network of several branches across the globe and is one of the oldest financial institutions in Africa.
Bank of African Investments
One of the top commercial banks operating in the country, the bank renders numerous commercial packages and services to the government, businesses, and individuals. With its large number of branches, it offers banking services to corporate and individual customers. founded in 1996, it is the first private bank. The BAI has a nationwide network of over 89 branches across the city, with 41 of them in Luanda Province.
Banco Espírito Santo Angola (BESA)
This is one of the largest banks here, with a network of around 1,500 branches. It renders complete banking and financial services, such as retail and investment banking, asset management, and brokerage services. It also gives out loans to small business owners, farmers, and persons who wish to buy a house. It operates through its principal banking subsidiary, Banco Espírito Santo Group as well as other branches in Switzerland, France, and the United Arab Emirates. The group is the second-largest commercial bank in Portugal and the largest bank by market capitalization.
Banco Totta De Angola
This banking service institution renders services to persons, corporations, SMEs, private clients, et cetera. It has local and international branches with several ATMs scattered across the African country. Based in Luanda, the bank has an asset presumed to be worth billions. It offers banking services such as lending, credit management, wealth management, and investments. Located in Luanda, it is one of the best in this African city.
Banco De Portugal
Located in Luanda, this is a regional and international bank that offers business, investment banking, and other services to residents here. The bank is a subsidiary of the central bank of the Portuguese Republic which was established by royal charter in 1846. As a member of the Bank of Portugal and an international banking group based in Portugal, it was the first foreign bank. It provides several commercial services to various customers
Banco Comercial Angolano
This is one of the top commercial sector financial institutions within the territory. It offers to trade, business, and investment banking services to clients. Located in Luanda, all its operations are carried out through four sections: investment, corporate, retail banking, etc. It has thousands of workers in numerous branches based within and outside the territory.